SOURCE: AmpliTech Group, Inc.

AmpliTech Group, Inc.

March 31, 2016 15:59 ET

AmpliTech Announces Profitable FY2015

New Strategies Yield Greater Revenues and Broaden Markets

BOHEMIA, NY--(Marketwired - Mar 31, 2016) - AmpliTech Group, Inc. (OTCQB: AMPG) (the "Company") announced today that they have filed their 10K for FY2015. The 10K revealed that the Company's revenues increased and reached a record high. CEO Fawad Maqbool stated, "We are pleased to see that our new strategies of joint ventures, partnerships, eliminating toxic and high interest debt, obtaining low interest financing, and investing in advertising and customer awareness has resulted in a profitable FY2015." The key highlights appear below:

  • Increase in revenue by 16.4% compared to 2014 revenue
  • Gross profit increase of nearly 20%
  • G&A expenses reduction due to elimination of consulting and unproductive IR/PR
  • Decrease in interest expense and elimination of ALL convertible debt
  • Elimination of high interest A/R factoring due to lower interest financing
  • Profitable 2015 with increased bookings which will convert to higher sales and net profit in FY2016 compared to a loss in 2014

The Company also expects to release new products aimed at the wireless and satellite markets that will offer state-of-the-art technology and performance. These products will fill a void in current large volume markets and will contribute directly to improving our everyday quality of life. Mr. Maqbool further stated, "We are especially pleased that we have engaged in a social media campaign to connect with our potential customers, investors, and shareholders to improve awareness and relations. AMPG has begun to connect with the rest of the world."

About AmpliTech Group, Inc.
AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF (Low Noise Amplifiers (LNA) and Power Amplifiers (PA) for the Domestic and International, SATCOM, Space, and Military markets. These designs cover the frequency range from 50 kHz to 40 GHz -- eventually, offering designs up to 100 GHz. AmpliTech also provides consulting services to help with any microwave components or systems design problems. Our steady growth over the past 13+ years has come about because we can provide complex, custom solutions for nearly ANY custom requirements that are presented us. In addition, we have the best assemblers, wires, and technicians in the industry and can provide contract assembly of customers' own designs. Click here to view AmpliTech video. Website: http://www.amplitechinc.com. Twitter: @AmpliTechAMPG

Forward-Looking Statements
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

Contact Information

  • CONTACT:
    Fawad Maqbool
    CEO
    AmpliTech Group, Inc.
    (631) 521-7831